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The lifespan of a picket fence largely depends on its material. Wooden picket fences typically last 10 to 15 years with regular maintenance, while vinyl and composite picket fences can last 20 to 30 years or more due to their resistance to weather, rot, and pests. Metal picket fences often exceed 30 years, especially when properly coated to prevent rust or corrosion.

A wrought iron fence costs about $3,150 on average. The price can range from as low as $470 to as high as $10,310 or more. The cost to install a wrought iron fence can vary dramatically depending on the size (in terms of height and linear feet), design complexity, shape, and add-ons such as gates and decorative flourishes. Consult a wrought iron fence professional with the measurements and specifications of your project to determine an accurate estimate.

A barbed wire fence will last an average of 15 to 20 years, but the life expectancy can range anywhere between five and 50 years. Thicker wires last longer, as do fences made with galvanized metal. If the barbed wire fence is in a climate with harsh winters and summers, it likely won’t last more than 10 to 15 years. Failing to keep up with maintenance and repairs will also shorten the lifespan of a barbed wire fence.

Hedges are a better financial investment for a home than fences in several ways. First, hedges are less expensive to install than fences. Fence installation costs $1,775 to $4,600, depending on the type and size. You can also choose to plant smaller and less expensive hedges, knowing that it will take longer for them to mature. Next, mature hedges add resale value to the home, meaning the cost savings get even better when it's time to sell.